Holy See calls on wealthier nations to forgive debts of poor small island nations
July 15, 2024
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CWN Editor's Note: Archbishop Gabriele Caccia, apostolic nuncio and Permanent Observer of the Holy See to the United Nations, has called for debt forgiveness for small island developing states (SIDS).
These nations face “crippling debts, slow growth prospects, persistent food insecurity and malnutrition, extreme vulnerability to climate change and natural disasters,” he stated at a recent UN forum.
“My delegation reiterates its call on wealthier nations to consider debt relief, or indeed, debt cancellation,” he continued. “Such radical but necessary action will liberate SIDS from the untenable choice between servicing mounting interest payments, or allocating resources to invest in health, education, social protection systems and infrastructure.”
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